Cleopiptra

Prices have found not only a continuation of the U.S. Dollar strength today but continues to do so despite equities buying. The breakout through the triangle pattern on the 30 minute chart show’s that the 81.00 was not a level that seller’s were willing to step in at. The key to any breakout is whether or not buyers will support prices when prices pull back.

Forex traders do need to keep an eye on what’s going on in the equities. And while most traders look at the S&P 500 for an idea of what stocks are doing, I take a slightly different tact.

The EUR/USD has been rallying across the intraday time frames of the 15, 30, and 60 minute charts. The bounce from 1.3600 has been significant enough to even level the 240 minute chat to the beginning stages of accumulation after a sustained downtrend from 1.4600.

I’m still in “teacher” mode right now after having visited Korea – teaching traders there – for the past two weeks. I’ll definitely get back to current market set ups this week, I’m still playing a bit of catch-up from my time away from my home office.

I’m in Korea for two weeks…and so I’m TRADING from Korea for two weeks! So the issue is not whether I can trade but do I know the mannerisms of the hours that I will be trading. So I have to ask myself: Am I pipsmart in the ways of the Asian session? THAT will be what I have the adjust for the most.

I’ve been watching the daily chart of the USD/JPY for a correction ever since it’s visit up to the 200SMA…

Is it a reversal or a correction?

It’s a issue that many traders struggle with..

I was laying low for most of December, (as I see no point in unraveling a pretty decent year with too much year-end trading) but I was staying fairly active with my short term five minute set ups (which I have outlined in detailed perviously) and find myself ready to grab 2010 and see what it offers.

Hi Traders, I just returned last week from Seoul, Korea last week and spent a great deal of time there speaking about the U.S. Dollar and the Dow Jones. These two markets are of keen interest for anyone trader dollar-correlated pairs.

The “backbone” or “decision level” of an uptrending pattern is the lower uptrend line as it support and there therefore holds the key to either the swing entry continuation buy or the trend reversal short.